Australian planned diesel, petrol deliveries fall
Sydney (1 May)
Refiners have cut their planned diesel and petrol deliveries to Australia, but increased their planned jet fuel deliveries, likely because of ongoing maritime disruptions and Chinese supply assurances.
Ships carrying 1.6 billion litres of diesel, 591 million litres of petrol, and 394 million litres of jet fuel will arrive in Australia over the next month, Energy Minister Chris Bowen told reporters on 30 May.
Planned diesel and petrol deliveries are down from 1.8 billion litres and 617 million litres a week ago, respectively. But planned jet fuel deliveries are up from 294 million litres a week ago, likely because of imports from China.
Australia secured around 100 million litres of June-dated jet fuel cargoes from Chinese refiners on 19 May, following discussions between Australian Prime Minister Anthony Albanese and Chinese Premier Li Qiang.
Australia’s diesel, petrol, and jet fuel stocks remain elevated relative to pre-Iran war levels, despite the drop in planned petrol and diesel shipments, Bowen said on 30 May. The country has 48 days’ worth of petrol reserves, 36 days’ worth of diesel reserves, and 30 days’ worth of jet fuel reserves on land, Bowen added.
“Supply chains remain obviously under pressure because of the international environment, but solid and secure for Australians,” Bowen said. Australia remains at Level 2 of its National Fuel Strategy, indicating that it faces effective supply chains with localised disruptions.
The Australian Government has underwritten 40 million litres of diesel purchases to increase fuel reserves in regional Queensland, multiple Ministers said on 30 May. Fuel importer Freedom Fuels will supply the diesel to regional distributor Woodhams Petroleum in June, according to Bowen.
The Government has underwritten 840 million litres of fuel shipments and secured supply assurances from multiple governments in Asia since the start of the US-Israeli war in Iran.
By Avinash Govind